Question - Peabody, Ltd. applies manufacturing overhead to WIP using a predetermined overhead rate based on machining hours. Peabody has provided the following information for June.
- Budgeted Manufacturing Overhead: $307,778
- Budgeted machining hours: 10,166
- Manufacturing Overhead Incurred: $404,122
- Actual machining hours: 14,671
How much manufacturing overhead did Peabody debit to WIP?